Kudlow’s Money Politics

One Cheer for the Cliff Deal

One cheer out of a potential three is all anyone can logically give the fiscal-cliff deal. On the day after the bargain was clinched, the stock market gave a 300-point cheer. So be it.

In the short run, extending tax cuts up to $450,000 probably saved us from a recession. If all the tax cuts had expired, we’d have a $500 billion tax hike, plus marginal rate increases, and that would have sunk the economy. So I’m going to bet that the big stock rally was a sign of relief that the final deal wasn’t worse. 

Read my full column here

Larry Kudlow is the author of JFK and the Reagan Revolution: A Secret History of American Prosperity, written with Brian Domitrovic.

Most Popular

Culture

White Cats and Black Swans

Making a film of Cats is a bold endeavor — it is a musical with no real plot, based on T. S. Eliot’s idea of child-appropriate poems, and old Tom was a strange cat indeed. Casting Idris Elba as the criminal cat Macavity seems almost inevitable — he has always made a great gangster — but I think there was ... Read More
World

Who Is Boris Johnson?

By next week at this time, Boris Johnson will be prime minister of the United Kingdom. Not since Margaret Thatcher has such an outsized personality resided in Number 10 Downing Street. Not since Winston Churchill has such a wit presided over Her Majesty’s Government. Wit is actually the chief reason for ... Read More
Energy & Environment

Ohio Bans ‘Nature Rights’

Finally! After voters in Toledo granted "rights" to Lake Erie -- in a special election, it should be noted, with minuscule turnout -- Ohio has outlawed the enforcement of "nature rights" in a budget bill signed by the governor. From the legislation: Sec. 2305.011...[Definitions omitted] (B) Nature or any ... Read More
Health Care

The Puzzling Problem of Vaping

San Francisco -- A 29-story office building at 123 Mission Street illustrates the policy puzzles that fester because of these facts: For centuries, tobacco has been a widely used, legal consumer good that does serious and often lethal harm when used as it is intended to be used. And its harmfulness has been a ... Read More
Politics & Policy

The Ungrateful among Us

This is the transcript from Episode 156 of The Editors. Rich: How bad were the president’s tweets? What does Ilhan Omar owe to her country? We will discuss all of this and more on this week’s edition of The Editors. I’m Rich Lowry, and I’m joined as always, or at least most of the time by the right, ... Read More